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Hi Steve,
Yes it works excellently for stort term trades. I use 3 to 5 days MFI in
daily charts to gauge the general direction for intraday trading.
regards,
Arun Verma
On Tue, 28 Jul 1998, Steve Karnish wrote:
> Dear Listees,
>
> Is anyone interested in discussing the technical merits of the
> Money Flow Index? I think it has some potential. I've noticed
> when applied to the grains, it's the only indicator to
> successfully trade off the bottom of the current downtrend. As
> we all know (I hope), oscillators are pretty good at timing you
> into a short position in a downtrending market and into a long
> position in an uptrend. Few oscillating indicators can buck the
> trend and be successful.
>
> I've observed that when the MFI hit 0 (zero) in Corn this year
> (twice and then again yesterday), the market rallied 17 and 35
> cents (quite the trick in this dismal market). Of course, the
> sell signals, when it reached 100, were really fantastic trades.
> (I'm using zero and 100 as buy and sell signals as broad
> references).
>
> So, who's responsible for this index? Has anybody out there
> used it or incorporated it into daily or intraday analysis? Is
> anyone interested in a survey of popular technical indicators?
> I learn something new about technical analysis everyday. The
> funkymentals have never put a dime in my pockets (with the
> exception of the time my dentist client had contacts with
> corrupt high ranking Mexican officials and learned that the Peso
> would soon be devalued...but, that was a once in a lifetime gift
> from the trading gods). Please help me with my lesson for the
> day.
>
> Steve Karnish
> CCT
>
>
>
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